Irish property market news and insights – for the industry, by the industry
Firstly, after more than a decade, I scrapped my old website and decided not to replace it. Instead, together with the PLACEengage team, we have created a space online for people to drop in for a virtual coffee and perhaps listen to a property podcast on iPropertyRadio or browse some of our real estate and construction news pages through Property District or Proptech Ireland.
*My new non-website can be accessed here: https://caroltallon.com
www.caroltallon.com
Before we get stuck into the general property news of the week, below are the local and international stories that might be of particular interest:
- Landlords including Starwood Capital Group, Greystar, Cortland and real estate investment trusts such as Invitation Homes Inc. and Mid-America Apartment Communities Inc. have backed RET Ventures to make early-stage bets on proptech startups https://www.crainsnewyork.com/real-estate/landlords-back-ret-ventures-find-proptech-bets
- Since our iPropertyRadio producer (and my daughter) abandoned us for cooler projects, including working on the Dublin Tech Summit, Proptech Ireland has complimentary tickets to give away to people in the planning, construction, property and proptech sectors – register here: https://ti.to/DTS/dublin-tech-summit-virtual-2021/with/3bkbazpluso
Register for complimentary tickets for Dublin Tech Summit 2021
- Dublin takes one of the largest falls down list of world’s most liveable cities: The capital saw one of the highest ranking drops of all the cities included in the index. https://www.thejournal.ie/dublin-falls-worlds-most-liveable-cities-ranking-the-economist-5461708-Jun2021/
- At least we know the next line of attack… The Irish Times is actually calling for negative property stories – ‘Tenants: Share your stories of unfair treatment by landlords’ https://www.irishtimes.com/news/social-affairs/tenants-share-your-stories-of-unfair-treatment-by-landlords-1.4588673?mode=amp
- Race to the bottom: Only five countries out of 29 in the analysis come in lower than the UK for estate agency commission – Singapore, the Netherlands, Ireland, Hong Kong and South Korea https://www.estateagenttoday.co.uk/breaking-news/2021/6/uk-estate-agents-are-good-value–and-thats-official
- Former Law Society President and current Council member Michael Quinlan has been appointed chair of the Property Services Regulatory Authority (PSRA) https://www.lawsociety.ie/gazette/top-stories/law-society-council-member-to-chair-prsa/
- Wild Atlantic women: Following in their footsteps along the west coast – Gráinne Lyons spent three months learning about women connected to the landscape https://www.irishtimes.com/life-and-style/travel/ireland/wild-atlantic-women-following-in-their-footsteps-along-the-west-coast-1.4539311?mode=amp
- Moderate density, design and political will can solve housing crisis: Urban sprawl put Ireland into paralysis and policymakers must alleviate despair https://www.irishtimes.com/opinion/moderate-density-design-and-political-will-can-solve-housing-crisis-1.4585862?mode=amp
- Nama raises forecast for surplus to €4.25bn: Sum is €250m higher than previously forecast https://www.irishtimes.com/business/commercial-property/nama-raises-forecast-for-surplus-to-4-25bn-1.4589636?mode=amp
- Low Taxes Brought Ireland Prosperity. A Global Tax Deal Now Threatens It. U.S. tech, pharmaceutical giants have set up shop in Ireland, drawn by its rock-bottom tax rates https://www.wsj.com/amp/articles/low-taxes-brought-ireland-prosperity-a-global-tax-deal-now-threatens-it-11623502557
- Fund investors got €12 million in tax refunds: A total of €12.25 million in dividend withholding tax was returned to investors via successful Reit and Iref refund applications https://www.businesspost.ie/tax/fund-investors-got-eur12-million-in-tax-refunds-13f5b944
- Large area of Galway City to become ‘decarbonisation zone’ https://connachttribune.ie/large-area-of-galway-city-to-become-decarbonisation-zone/
- Meath dezones a third of housing lands to mitigate climate change: Developers say the move will inflate the cost of land still available for residential use https://www.businesspost.ie/Planning/meath-dezones-a-third-of-housing-lands-to-mitigate-climate-change-596077a1
- Zoning and green belts: the lesson we can learn from four decades ago – In 1967, the government published a plan for the Dublin region that included three green belts. We can now make that aspiration work through Newlands, which offers a chance to convert agricultural land into a high-quality park while boosting housing https://www.businesspost.ie/property-insight/zoning-and-green-belts-the-lesson-we-can-learn-from-four-decades-ago-1a9fc432
- Bringing heritage buildings to life again takes time: The sensitive restoration and conversion into homes of two historic and protected 18th century Dutch-influenced townhouses which had fallen into dereliction on Cork city’s historic spine shows what’s possible when local authorities use their powers and are funded to deliver https://www.irishexaminer.com/opinion/commentanalysis/arid-40312295.html?type=amp
- Irish property psychosis rooted in fear of eviction – Eviction trauma is vivid enough in recent memory to be culturally transmitted https://www.irishtimes.com/opinion/irish-property-psychosis-rooted-in-fear-of-eviction-1.4586733?mode=amp
- Six reasons from booze to childcare why Dublin has highest EuroZone living cost https://www.dublinlive.ie/news/dublin-news/six-reasons-booze-coffee-childcare-20766701.amp
- The Irish economy and companies killing it on the FTSE 100 https://www.irishcentral.com/business/irish-economy-ftse-100.amp
If you missed last week’s round-up, you can catch up here: https://propertydistrict.ie/category/sunday-property-review/
As always, you might let me know if I have missed out on any relevant property news by emailing carol@caroltallon.com.
(Apologies in advance for any typos, it’s difficult to get good help on a Sunday. Also, I use voice to text dictation so just sound out anything that really doesn’t make sense in a strong rural accent and that should help!)
SUNDAY LISTEN
Property Matters: Ireland’s First Weekly Property Radio Show & Podcast
Ireland’s first weekly property radio show, Property Matters, launched In January 2019 on
Dublin South FM 93.9 and is now available internationally via iTunes and Spotify podcast (www.iPropertyRadio.com). The team delivers 60 minutes of industry chat weekly with guests from the areas of planning, construction, property and proptech.
On #PropertyMatters this week, we review the Limerick property market and speak to Helen McCormack, Owner of Helen McCormack Estate Agents based in Limerick about the business of estate agency.
Watch back: https://youtu.be/CyPAqE82PtE
*Listen back to all shows at: https://ipropertyradio.com/property-matters/
Email the Property Matters team at info@propertydistrict.ie
PLACEMAKING
PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT
- Portals Installed 376 Miles Apart Let People Interact With Each Other in Real Time https://mymodernmet.com/portals-connection-vilnius-lublin/
- Investing in a fairer society for Ireland after the pandemic: We have spent billions on the fight against this deadly virus; we should be prepared to make the same level of investment in health, housing, and childcare https://www.irishexaminer.com/opinion/ourview/arid-40308488.html?type=amp
- Just 14% of Dublin houses built within walking distance of public transport: Building housing and hoping for transport links after is ‘inefficient and risky’ https://www.irishtimes.com/news/environment/just-14-of-dublin-houses-built-within-walking-distance-of-public-transport-1.4589964?mode=amp
- The Irish Times view on Dublin city development: a new plan on the table – A new proposal for the site between O’Connell Street and Moore St could make a significant contribution to that part of the city https://www.irishtimes.com/opinion/editorial/the-irish-times-view-on-dublin-city-development-a-new-plan-on-the-table-1.4585845?mode=amp
- Are we too stupid to be trusted with making choices about our own regions? The lack of spending power at local level is an absence of power, full stop https://www.irishtimes.com/opinion/fintan-o-toole-are-we-too-stupid-to-be-trusted-with-making-choices-about-our-own-regions-1.4588657?mode=amp
- Call for council to build heated outdoor pool instead of white-water rafting facility at George’s Dock: The cost of the rafting project has grown from an initial estimate of €12 million to €25 million and it has been met with considerable opposition. https://www.thejournal.ie/heated-pool-5461823-Jun2021/
- Inchicore community devastated as St Michael’s centre closes forever after decades ahead of demolition: It’s been the heart of the community for many decades https://www.dublinlive.ie/news/dublin-news/inchicore-community-devastated-st-michaels-20774456
- Ibec: Delivery of vital Cork projects is taking far too long – ‘Traffic congestion risks undermining Cork’s growth and impacts its ability to attract and retain staff’ https://www.irishexaminer.com/business/economy/arid-40309037.html?type=amp
- Green light for public plaza in Clonmel: Contract signed for development at Kickham Barracks https://www.tipperarylive.ie/news/home/640084/green-light-for-public-plaza-in-clonmel.html
- New playground set to transform Pearse Park: Destination playgrounds will include a Norman multi activity play ship, wetpour moat, sensory zone and four tower castle https://m.independent.ie/regionals/newrossstandard/news/new-playground-set-to-transform-pearse-park-40512239.html
- Councillors ‘disgusted’ as Market House plan rejected: Local councillors have vowed to fight the decision by Wexford County Council to abandon plans to turn Gorey’s Market House into a top quality music and entertainment venue. https://m.independent.ie/regionals/goreyguardian/news/councillors-disgusted-as-market-house-plan-rejected-40512528.html
- Best Place to Live in Ireland 2021: Who are the judges? https://www.irishtimes.com/life-and-style/best-place-to-live-in-ireland-2021-who-are-the-judges-1.4590757?mode=amp
- Excellent example of teaching good citizenship through gamification: Belfast residents earn ‘civic dollars’ for a walk in the park – Cities Today – Connecting the world’s urban leaders https://cities–today-com.cdn.ampproject.org/c/s/cities-today.com/belfast-residents-earn-civic-dollars-for-a-walk-in-the-park/amp/
*PLACEengage: The future of speedy, successful placemaking for property developers is here – Property developers and project owners ready Public Consultation are encouraged to contact the PLACEengage team for full details*
CONSTRUCTION & DEVELOPMENT NEWS
Sean Mulryan’s Ballymore plans 385 new homes for naas
- Supply shortage, cost hikes to hit house affordability https://amp.rte.ie/amp/1227237/
- Rising cost of building materials is biggest post-Brexit fear for Irish firms – CSO https://m.independent.ie/business/brexit/rising-cost-of-building-materials-isbiggest-post-brexit-fear-for-irish-firms-cso-40527303.html
- Planning permissions for homes plummets by 50%: Latest CSO planning data highlights Covid-related collapse in activity https://www.irishtimes.com/business/construction/planning-permissions-for-homes-plummets-by-50-1.4590640?mode=amp
- Covid curbs: Year-long extension to planning permission on the cards – Cabinet to examine plan to give builders hit by pandemic extra year to finish projects https://www.irishtimes.com/news/politics/covid-curbs-year-long-extension-to-planning-permission-on-the-cards-1.4586956?mode=amp
- Delay to 1,300 new Dublin homes due to sewerage problem: Irish Water withdraws certification for schemes over fears of overloading network https://www.irishtimes.com/news/ireland/irish-news/delay-to-1-300-new-dublin-homes-due-to-sewerage-problem-1.4586097?mode=amp
- Shortage of timber and building materials adding to costs https://www.irishexaminer.com/farming/arid-40308650.html?type=amp
- To meet climate targets we must put much more energy into planningMove by the Commission for Regulation of Utilities to probe electricity demand from data centres is a rude awakening for all parties involved in this crucial debate https://www.businesspost.ie/energy/daniel-murray-to-meet-climate-targets-we-must-put-much-more-energy-into-planning-e673484f
- ‘It’s not suitable housing for anyone, anywhere’: Green light for another co-living development in Dublin despite ban: A series of co-living developments have been given the go-ahead in Dublin in recent months https://www.thejournal.ie/co-living-developments-approved-dublin-5462595-Jun2021/?amp=1
- Labour bill would cap land prices as recommended in 1973 Kenny report: Labour party leader Alan Kelly said the move would cut the cost of a semi-d on a greenfield site in Dublin by €30,000 https://www.businesspost.ie/houses/labour-bill-would-cap-land-prices-as-recommended-in-1973-kenny-report-8c394520
- Can the Land Development Agency finally solve Ireland’s housing crisis? The government is in a hurry to have the LDA established before the Dáil goes on holidays.. https://www.businesspost.ie/houses/can-the-land-development-agency-finally-solve-irelands-housing-crisis-72120041
- European legal case could put LDA plans for 700 homes in Dublin 8 at risk: Land Development Agency’s proposal for St Teresa’s Gardens covered by same master plan for adjacent sites that is being challenged in European Court of Justice https://www.businesspost.ie/houses/european-legal-case-could-put-lda-plans-for-700-homes-in-dublin-8-at-risk-116eef2d
- Construction Information Services round-up: Your guide to the most significant building developments taking place around the country https://www.businesspost.ie/commercial/construction-information-services-round-up-66bb6be4
- A company owned by Avestus Capital Partners, an Irish investment group, is planning to build nearly 1,000 apartments in Baldoyle, in north Dublin. https://www.thetimes.co.uk/article/avestus-capital-high-hopes-homes-dublin-7mrt93rft
- Dublin roundabout transformation plans with 8 storey block planned for pub site https://www.dublinlive.ie/news/property/irish-pubs-walkinstown-roundabout-kestrel-20772146
- €160m student accommodation plan in south Dublin gets approval https://www.breakingnews.ie/amp/ireland/e160m-student-accommodation-plan-in-south-dublin-gets-approval-1138884.html
- Up to 30 data centres in development in the Dublin metro area could struggle to get connected to the grid, after the Irish utilities regulator ordered power delivery firms to prioritise connection applications for data centres outside the capital. https://www.capacitymedia.com/articles/3828810/new-data-centres-in-dublin-face-power-connection-delay
- Public land in Dublin earmarked for social housing may be sold for use by school: Local representatives express concern at proposal for Mount Anville Road site https://www.irishtimes.com/news/social-affairs/public-land-in-dublin-earmarked-for-social-housing-may-be-sold-for-use-by-school-1.4591083?mode=amp
- Aldi unveils major residential, retail and supermarket development for Carrigaline: Five new buildings to be developed on the former pottery site https://www.irishexaminer.com/business/economy/arid-40308713.html?type=amp
- Youghal’s famed lighthouse to get glass-fronted viewing platform https://www.irishexaminer.com/news/munster/arid-40310339.html?type=amp
- City Council rejects plans for 10-storey docks hotel – Galway Daily https://www.galwaydaily.com/top-stories/city-council-rejects-plans-for-10-storey-docks-hotel/
- NEW: Plan for 3-storey homes beside Newbridge Road in Naas https://www.kildarenow.com/news/home/640386/new-plan-for-3-storey-homes-beside-newbridge-road-in-naas.html
- Sean Mulryan’s Ballymore plans 385 new homes for Naas: The 49-acre site is close to Naas Racecourse https://m.independent.ie/business/irish/sean-mulryans-ballymore-plans-385-new-homes-for-naas-40528772.html
- A consortium of investors behind a film studio in Ashbourne, Co Meath aims to complete the project by next year after securing permission for back lot facilities that will cater for outdoor scenes and temporary film sets https://www.thetimes.co.uk/article/ashbourne-ready-close-up-film-sets-ireland-xnbb0p6fw
- Drogheda site with full planning for 150-bed nursing home seeks €2.75m https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/drogheda-site-with-full-planning-for-150-bed-nursing-home-seeks-2-75m-1.4583349?mode=amp
- Amazon’s latest €450m data centre approved in Drogheda https://m.independent.ie/business/amazons-latest-450m-data-centre-approved-in-drogheda-40527195.html
- Parish Fury As Bishop Sells ‘Gift’ Of Land To Developers https://extra.ie/2021/06/07/property/bishops-sells-gift-land
- Evolving role of HVAC systems to mitigate the spread of COVID-19 | McKeon Group https://mckeon.ie/evolving-role-of-hvac-systems-to-mitigate-the-spread-of-covid-19/
- Grosvenor Group (Grosvenor), a privately-owned international property group, has appointed Melanie Gee as Non-Executive Chair of the Grosvenor Britain & Ireland (GBI) board https://www.propertyfundsworld.com/2021/06/10/301664/grosvenor-group-appoints-non-executive-chair-grosvenor-britain-ireland
- Kingspan donates €500k to TU Dublin extension: Work on the development of the cutting-edge facility, including the Kingspan Lab, begins in the third quarter of 2021. https://www.anglocelt.ie/2021/06/12/kingspan-donates-e500k-to-tu-dublin-extension/
- CN UK calls on construction to join pledge to support women: “We’ve launched the Inspiring Women in Construction Pledge to offer a clear focus for the many companies in our sector that want to become more welcoming to women employees, but don’t always know where to start. The pledge offers a simple formula for making progress towards greater gender equality, as well as a visible way to tell the world you aim to be part of the solution, not the problem.” https://www.constructionnews.co.uk/agenda/inspire-me/cn-calls-on-construction-to-join-pledge-to-support-women-09-06-2021/
PROPTECH, MMC & CONSTRUCTION INNOVATION
- Proptech Ireland is updating the database of 2021 Irish technology providers for the built environment – From smart design and planning right through to the smart property transaction, where does your Irish-led or Ireland-based proptech or MMC business sit? Pease take five minutes to add or update your details to our internationally-shared listing here: SIGN UP HERE: *PROPTECH INNOVATORS and STARTUPS *
- Transformative Technology Predictive Analytics Real Estate Industry https://graylingproperties.ie/transformative-technology-predictive-analytics-and-the-real-estate-industry/
- Proptech start-up Kodehyve eyes Irish expansion after raising €1m https://www.siliconrepublic.com/start-ups/kodehyve-irish-expansion-proptech-funding
- Smart city micro mobility: E-scooter company in talks with Cork City Council over share scheme https://www.irishexaminer.com/news/arid-40309766.html
- O’Donnellan & Joyce sells €4.5m of properties in virtual auction: Colm O’Donnellan outlined how the live stream auction works and went on to show how his digital auction room had transformed the way that property sales are conducted. https://www.advertiser.ie/galway/article/122418/odonnellan-joyce-sells-45m-of-properties-in-virtual-auction
- Tech partners create new safety and security system for construction industry https://www.irishnews.com/business/2021/06/09/news/tech-partners-create-new-safety-and-security-system-for-construction-industry-2348749/
- New research partnership to build Ireland’s first campus digital twin https://www.fenews.co.uk/press-releases/69918-new-research-partnership-to-build-ireland-s-first-campus-digital-twin
- Nvidia acquires hi-def mapping startup DeepMap to bolster AV technology – TechCrunch https://techcrunch.com/2021/06/10/nvidia-acquires-hi-def-mapping-startup-deepmap-to-bolster-av-technology/
- What will the office of the future look like? Top 1000: Find out how robotics, ventilation and a greater focus on social spaces will change it https://www.irishtimes.com/business/commercial-property/what-will-the-office-of-the-future-look-like-1.4586036?mode=amp
- PlaceTech | Equiem joins forces with leading US landlord https://placetech.net/news/equiem-joins-forces-with-leading-us-landlord/amp/
- Unicorn founders hold court on proptech’s resi revolution: An unplugged conversation with the creators of Doma, Hippo, Homebound and Fifth Wall https://therealdeal.com/2021/06/11/unicorn-founders-hold-court-on-proptechs-resi-revolution/
- 5 Mins With … Construo Founder & CEO Tom Spilsted | Technology & AI | Construction Global https://constructionglobal.com/technology-and-ai/5-mins-construo-founder-and-ceo-tom-spilsted
- Drones in Construction: Technology Trends https://www.designbuild-network.com/comment/drones-construction-technology-trends/
- PropTech Trends & Strategies For Landlords – Real Estate and Construction – United States https://www.mondaq.com/unitedstates/landlord-tenant–leases/1076664/proptech-trends-strategies-for-landlords
- The Zillow Mafia: 9 Former Execs Who Launched Their Own Startups https://www.businessinsider.com/zillow-mafia-real-estate-proptech-startups-founders-spencer-rascoff-2021-6?r=US&IR=T
- Former Elliman, WeWork marketing chief joins “Bumble for homes” startup: Nicole Oge heads to real estate app Casa Blanca as chief growth officer https://therealdeal.com/2021/06/11/former-elliman-wework-marketing-chief-joins-bumble-for-homes-startup/
RESIDENTIAL PROPERTY NEWS (including PRS)
- The latest ‘Housing Market Monitor’ shows housing activity has been strong this year, but it could take at least until 2024 before supply comes close to meeting demand. https://m.independent.ie/business/personal-finance/property-mortgages/three-more-years-until-demand-for-new-homes-is-satisfied-40521851.html
- With interest rates this low, the State should scale up borrowing to scale up building https://m.independent.ie/business/commercial-property/with-interest-rates-this-low-the-state-should-scale-up-borrowing-to-scale-up-building-40521399.html
- No vacant property tax in next Budget, says Donohoe: No accurate data currently available on how many properties vacant, says Minister https://www.irishtimes.com/news/ireland/irish-news/no-vacant-property-tax-in-next-budget-says-donohoe-1.4590933?mode=amp
- Only three vacant home officers employed in the last three years: Despite €50,000 in funding and a requirement to employ such staff, hardly any local authorities have a full-time employee focused on bringing empty homes back into use https://www.businesspost.ie/Planning/only-three-vacant-home-officers-employed-in-the-last-three-years-39bd38cf
- Landlords will not be allowed to demand in excess of two months’ rent upfront under new rules (including students): Covid-19 protections for renters will also be extended for another six months until 12 January 2022. https://www.thejournal.ie/upfront-rent-demand-rules-5460494-Jun2021/
- Deposit amounts should be set by landlords, says property owners’ group: Upfront charges to be limited to two months’ rent under plans to be brought to Cabinet https://www.irishtimes.com/news/politics/deposit-amounts-should-be-set-by-landlords-says-property-owners-group-1.4588330?mode=amp
- No rent rules, no vacancies: It’s social housing investment https://www.irishtimes.com/business/personal-finance/no-rent-rules-no-vacancies-it-s-social-housing-investment-1.4583121?mode=amp
- Bulk leasing of social homes has no ‘substantial economic benefit’: Eurostat said the practice of leasing social homes, as opposed to buying them outright, has almost completely de-risked development costs and funds “enjoy most of the rewards” of the deals https://www.businesspost.ie/houses/bulk-leasing-of-social-homes-has-no-substantial-economic-benefit-08149a9f
- Dublin’s BTR sector is set for growth https://www.propertyweek.com/insight/dublins-btr-sector-is-set-for-growth/5114658.article
- Investment funds avoiding rent controls, industry body claims: Auctioneer group says new properties exempt from rules may be fuelling inflation https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/economy/investment-funds-avoiding-rent-controls-industry-body-claims-1.4590038?mode=amp
- New SCSI president TJ Cronin calls for up to €7bn extra for housing: The Cork-based estate agent says ‘long-term strategic vision, not short-term reactionary measures’ are needed https://m.independent.ie/business/commercial-property/new-scsi-president-tj-cronin-calls-for-up-to-7bn-extra-for-housing-40521406.html
- Bank of Ireland ups ‘green’ lending fund to €5bn to keep pace with growing demand https://www.irishtimes.com/business/financial-services/bank-of-ireland-ups-green-lending-fund-to-5bn-to-keep-pace-with-growing-demand-1.4589959?mode=amp
- Lack of money is not the real obstacle to building more homes in Ireland https://www.thetimes.co.uk/article/lack-of-money-is-not-the-real-obstacle-to-building-more-homes-in-ireland-f32zlhwrn
- Tralee social housing portfolio for €10.75m offers buyer 4.66% yield: 69 apartments across two schemes held on 20-year leases by approved housing bodies https://www.irishtimes.com/business/commercial-property/tralee-social-housing-portfolio-for-10-75m-offers-buyer-4-66-yield-1.4587339?mode=amp
- Sustainable and affordable homes for under €150k? It’s doable. Clare-based chartered building surveyor Fergus Merriman outlines how he’s built a sustainable, affordable home with no energy costs for less than €150,000 and how this model could be easily replicated https://www.irishexaminer.com/property/residential/arid-40305056.html
- Age of first-time buyer rises to 34 as time in parental home lengthens https://www.irishexaminer.com/business/economy/arid-40310045.html
- Could rent-to-buy help to unlock home ownership for generation rent? What if ‘dead’ money from rent could be used to offset against the purchase of a property? https://www.irishtimes.com/life-and-style/homes-and-property/could-rent-to-buy-help-to-unlock-home-ownership-for-generation-rent-1.4584602?mode=amp
- Property Focus: Why Dingle is now a pandemic refuge for buyers leaving the cities – Properties that were previously slow to sell are going quickly and derelict cottages are being bought up by buyers to renovate them as permanent homes, part-time residences and holiday hideaways https://www.irishexaminer.com/property/residential/arid-40305266.html
- Rent or buy: We have €60,000 saved, what is our best option for now? Q&A: Reader who moved to Ireland for work wonders if buying is better than renting https://www.irishtimes.com/business/economy/rent-or-buy-we-have-60-000-saved-what-is-our-best-option-for-now-1.4581289?mode=amp
- Should I apply for planning for my new home before I’ve acquired the site? Property Clinic: The sale of a site can be made conditional on getting planning permission https://www.irishtimes.com/life-and-style/homes-and-property/should-i-apply-for-planning-for-my-new-home-before-i-ve-acquired-the-site-1.4583216?mode=amp
- Smithwick family’s former country-house home for €3.25m: Kilcreene Lodge comes with a lake and woodland but has Kilkenny city at the end of the drive https://www.irishtimes.com/life-and-style/homes-and-property/new-to-market/smithwick-family-s-former-country-house-home-for-3-25m-1.4587770?mode=amp
- Barge or narrowboat? Hunting a housing fix on the banks of the Royal Canal: ‘Castleknock is a great place, the community here is great…We take care of each other’ https://www.irishtimes.com/news/social-affairs/barge-or-narrowboat-hunting-a-housing-fix-on-the-banks-of-the-royal-canal-1.4586926?mode=amp
- Man left homeless after Waterways Ireland seize his house boat https://www.irishtimes.com/news/social-affairs/man-left-homeless-after-waterways-ireland-seize-his-house-boat-1.4588937?mode=amp
- RTÉ seeks home-refurb participants for Arlene McIntyre’s Designed for Life: Showhouse fit-out queen wants to help homeowners with decor, layout, storage and colour https://www.irishtimes.com/life-and-style/homes-and-property/rt%C3%A9-seeks-home-refurb-participants-for-arlene-mcintyre-s-designed-for-life-1.4586682?mode=amp
- Decks, patios and other garden construction projects: What do they cost and are they worth it? https://www.irishtimes.com/life-and-style/homes-and-property/interiors/decks-patios-and-other-garden-construction-projects-what-do-they-cost-and-are-they-worth-it-1.4587674?mode=amp
COMMERCIAL PROPERTY NEWS
- The Taoiseach has said the Government may signal at the end of this month that some workers can return to their offices by the end of August. https://www.rte.ie/news/2021/0608/1226989-return-to-work-covid/
- All changed in the retail landscape: The transformation of the retail sector began long before anyone had heard of coronavirus, but the Covid-19 pandemic has served to accelerate it https://www.irishtimes.com/sponsored/kpmg/all-changed-in-the-retail-landscape-1.4582284?mode=amp
- Hines and Peterson achieve full occupancy for former Central Bank HQ offices: Private investment firm Neuberger Berman sign for office space at 2 Central Plaza https://www.irishtimes.com/business/commercial-property/hines-and-peterson-achieve-full-occupancy-for-former-central-bank-hq-offices-1.4587349?mode=amp
- Marathon Asset Management seeks €78m for retail park portfolio: Sale of schemes in Dublin, Drogheda and Clonmel offers buyer net initial yield of 8.43% https://www.irishtimes.com/business/commercial-property/marathon-asset-management-seeks-78m-for-retail-park-portfolio-1.4587609?mode=amp
- Brown Thomas and Arnotts up for sale in £4bn Selfridges deal – report: Weston family appoint Credit Suisse to advise after unsolicited offer for group including Irish stores https://www.irishtimes.com/business/retail-and-services/brown-thomas-and-arnotts-up-for-sale-in-4bn-selfridges-deal-report-1.4589981?mode=amp
- ‘I got an offer I couldn’t refuse’: Helen Turkington shuts up her Ranelagh shop: Vegan ice-cream maker NoBó will take over the interior designer’s Dunville Ave shop https://www.irishtimes.com/life-and-style/homes-and-property/i-got-an-offer-i-couldn-t-refuse-helen-turkington-shuts-up-her-ranelagh-shop-1.4586640?mode=amp
- Council approves sale of Dublin’s Plough Pub at €380,000 loss https://www.irishtimes.com/news/ireland/irish-news/council-approves-sale-of-dublin-s-plough-pub-at-380-000-loss-1.4587299?mode=amp
- German investor pays €22m for Grafton Street shop: Deka Immobilien snaps up premises of & Other Stories from UK-based Aviva Investors https://www.irishtimes.com/business/commercial-property/german-investor-pays-22m-for-grafton-street-shop-1.4591028?mode=amp
- Council seeks to sell two Dublin city properties for €35,000: Deal to sell site made ‘on the basis that we haven’t got a leg to stand on legally’ – council https://www.irishtimes.com/news/ireland/irish-news/council-seeks-to-sell-two-dublin-city-properties-for-35-000-1.4589975?mode=amp
- Travel technology company TripActions is expanding further into Europe with the opening of a new office in Dublin, initially recruiting 25 people. https://www.irishtimes.com/business/technology/travel-tech-company-tripactions-to-open-dublin-office-1.4589488?mode=amp
- More firms looking at out-of-town offices, says landlord https://m.independent.ie/business/irish/more-firms-looking-at-out-of-town-offices-says-landlord-40517796.html
- Social media giant Reddit looks to Dublin for new office move: ‘There are folks from all over the tech world in Dublin’ https://m.independent.ie/business/commercial-property/social-media-giant-reddit-looks-to-dublin-for-new-office-move-40528787.html
- Staycity expands in France and Germany in post pandemic push: The Irish aparthotel operator opened properties in Heidelberg and Bordeaux, and plans to add ten more locations this year and next https://www.businesspost.ie/companies/staycity-expands-in-france-and-germany-in-post-pandemic-push-0a1c3a91
- Lidl Cork Street is Back and Better Than Ever! The newly refurbished Lidl store re-opens with €3 million local investment https://www.irishrealestate.news/lidl-cork-street-is-back-and-better-than-ever/
- Landmark Terenure property will appeal to investors and developers: 3,500sqft Dublin 6 premises also has seven off-street parking spaces https://m.independent.ie/business/commercial-property/landmark-terenure-property-will-appeal-to-investors-and-developers-40521404.html
- Cybersecurity firm to double its presence in Cork: The two buildings that make up Penrose Dock are now 90% let https://www.irishexaminer.com/business/companies/arid-40308434.html
- Cork City Council to acquire derelict North Main Street eyesores https://www.irishexaminer.com/news/munster/arid-40312265.html
- Altratech expansion frees space fornew start ups at UCC innovation hub: State-of-the-art lab and office space available at UCC’s incubation hub for start-ups and spin Outs https://www.irishexaminer.com/property/commercial/arid-40310522.html?type=amp
- Office investment on Galway’s Eyre Square guiding at €2.5m: 11,500sq ft of accommodation at Hardiman House is for sale with full vacant possession https://www.irishtimes.com/business/commercial-property/office-investment-on-galway-s-eyre-square-guiding-at-2-5m-1.4583278?mode=amp
- Former Eircom building in Limerick sells for €1.1m https://www.limerickleader.ie/news/home/640595/former-eircom-building-in-limerick-sells-for-1-1m.html
- IDA currently working with Mayo authority to develop new business park https://www.con-telegraph.ie/2021/06/10/ida-currently-working-with-mayo-authority-to-develop-new-business-park/
- From Shannonside to Noreside and Royal Meath – land prices zoom past their guides https://m.independent.ie/business/farming/farm-property/from-shannonside-to-noreside-and-royal-meath-land-prices-zoom-past-their-guides-40511224.html
- Tesco wants to convert shop into dental surgery in Naas https://www.kildarenow.com/news/home/640663/tesco-wants-to-convert-shop-into-dental-surgery-in-naas.html
- BidX1 to offer 250 lots with reserves of €40m in next auction: Top lot in June 25 sale is a group of eight apartments in Dublin’s Liberties with €1.85m price tag https://www.businesspost.ie/commercial/bidx1-to-offer-250-lots-with-reserves-of-eur40m-in-next-auction-3489788a
INTERNATIONAL PROPERTY NEWS
- Real estate has shouldered, not just shared, the cost of Covid: https://www.egi.co.uk/news/real-estate-has-shouldered-not-just-shared-the-cost-of-covid-fta0/
- UK Property chiefs call for more flexibility over rent arrears https://www.thetimes.co.uk/article/property-chiefs-call-for-more-flexibility-over-rent-arrears-fh57h3pkg
- IWG UK: Shared office firm warns of sharp profits drop https://www.bbc.com/news/business-57381643
- New rules will require net-zero plans to win UK public jobs https://www.constructionnews.co.uk/government/new-rules-will-require-net-zero-plans-to-win-public-jobs-07-06-2021/
- Warehousing and logistics – the star performer in NI commercial property sector https://www.irishnews.com/business/2021/06/08/news/warehousing-and-logistics-the-star-performer-2345038/
- Blackstone To Take Data Center REIT QTS Private In $10B Transaction https://www.bisnow.com/national/news/data-center/blackstone-buying-data-center-reit-qts-10b-take-private-109145
- This article, which dates back to last February, was shared by The Currency’s Sean Keyes this week and there’s plenty to learn from here: “One consequence of Covid has been plunging rents in cities across the world, as tenants flock out of city centres and the long-term rental market is flooded with former Airbnb properties. This has left tenants jubilant, and landlords panicked. Sydney, Australia, is no different. But what is remarkable is that rents and house prices in Sydney were falling some time before Covid struck. From a peak of A$550 per week in 2015 (£310, US $420), the median unit rent had fallen a substantial 7.3% by December 2019. House prices fell from a median of A$1,075,000 in December 2017 to A$865,000 a year later. By contrast prices in London, UK, have been broadly stable since 2016 after almost two decades of meteoric growth. The cause of this was pretty simple. Sydney built more houses. But how it did it is the interesting part…” https://worksinprogress.co/issue/a-place-in-the-sun/
FACEBOOK GROUP FOR IRISH PROPERTY BUYERS & INVESTORS
Crowd-sourcing answers topical property questions:
Irish Property Buyers Handbook annuals
As many of you might know, my annual property book The Irish Property Buyers’ Handbook (since 2011) was rebranded in 2018 and now appears as part of The Property Insider series, published by Oak Tree Press, the first three titles are now published and available here: https://www.amazon.com/Carol-Tallon/
From 2020, the publishers and I wanted to ensure the content remains topical and we are now doing this by crowd-sourcing home buyer and investor queries, with crowd-sourced and editorial team answers.
Join the Facebook Group here to contribute: https://www.facebook.com/groups/IrishPropertyBuyers/